SINGAPORE & HONG KONG & SYDNEY & TOKYO, Nov 14 (Bernama-BUSINESS WIRE) -- AxiomSL received two Regulation Asia Awards for Excellence 2019 at a ceremony in Singapore on 13 November 2019 winning the coveted Best Solution in Regulatory Reporting award and the Regtech Award for Cloud Innovation.
“We are proud to have been presented with two awards this year,” said Peter Tierney, AxiomSL’s APAC General Manager. “Not only are we delighted to be singled out as best in class for our data integrity and control platform and risk and regulatory solutions, but we are thrilled that Regulation Asia recognizes the value of RegCloud™, our innovative cloud deployment offering. Clients across the Asia Pacific region are already benefiting from the efficiencies and economies of scale gained by deploying AxiomSL’s platform and solutions ― including MAS 610, HKMA, APRA-EFS, and Global Shareholding Disclosures ― on its well-architected, highly secure RegCloud,” added Tierney.
Financial institutions benefit from AxiomSL’s innovative, transparent regulatory compliance and reporting ecosystem that efficiently satisfies a broad range of regulatory requirements, quickly incorporates regulatory changes, provides dynamic data-lineage that supports audit defense, and enables business-critical insights into risk management. “In today’s Basel-driven environment, firms increasingly leverage ControllerView’s deep capabilities to run their risk management and Basel compliance programs,” commented Tierney.
“The Basel Committee on Banking Supervision’s (BCBS) standard 239 sets the parameters for enterprise risk management (ERM) ― a foundation upon which business units, governance, and risk functions can mutually evolve,” said Abraham Teo, Head of Products, APAC for AxiomSL. “To this end, AxiomSL’s data integrity and control platform ― the antithesis of a black box ― delivers transparent risk capital and return calculations with reporting choices that satisfy regulatory requirements,” Teo added. “With its ability to seamlessly ingest disparate data and its end-to-end automation processes, ControllerView provides clients with the clarity and information they need to build higher-quality capital and liquidity reserves, thus increasing their capacity to buffer unexpected losses and weather liquidity crises,” continued Teo.
“Innovation is at the heart of AxiomSL’s core technology,” said AxiomSL’s Eric Rothrock, Senior Vice President, Cloud Product Management. “We are proud to continue that innovation journey with RegCloud, our highly secure, fully managed, cost optimized RegCloud.”
AxiomSL deploys RegCloud based on a secure, single-tenant virtual private cloud (VPC) for each client. “Security is paramount as financial institutions consider going to the cloud. This year, we achieved ISO 27001 certification and SOC 2 Type II attestation as part of a comprehensive approach to ensuring the security of sensitive material non-public information (MNPI) on RegCloud,” commented Rothrock.
Clients utilizing RegCloud experience key outcomes including optimized application reliability and performance, continuous alignment with regulatory requirements, efficient delegation of security and maintenance, quicker time-to-value, and ongoing cost savings. Relieved of the burden of owning and operating complex hardware and software infrastructures, firms utilizing RegCloud discover that they can focus on their core business and become more agile and innovative.
“Receiving Regulation Asia’s award for Cloud Innovation is an exciting validation that financial institutions in Asia Pacific and globally are ready to consider the cloud for their risk and regulatory data and reporting ― when the implementation meets their expectations for security and efficiency ― as does RegCloud,” Peter Tierney concluded.
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